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tv   Senator Schumer on DACA Border Security and Equifax  CSPAN  September 15, 2017 12:09am-12:30am EDT

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be reduced without major disruptions to the global economy. you can find all of our live coverage online at c-span.our streaming on the free c-span radio app cnn reported today that president trump and democrats move closer to a deal on daca. writing that the -- and reiterated by the president were met with immediate outrage for conservatives and put pressure on the public's allies in congress. senator schumer talked about his meeting on the senate floor. good morning, as we continue toc work on the nda, democratic side is committed to working with the public and set on good faith.
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the managers have been able to include more than 100 moments in the substitute. i hope we can do another package to today. senator mccain and reid are managing this on their great skill. and now how important this is to senator mccain and wants to see it through as soon as possible.s and we are going to help in that regard. now, last night leader plus he and i had a constructive meeting with president trump and several members of the cabinet.hich one of our most productive discussions was about the daca. program in which we all agreed on a framework. pass additional measures, excluding the wall. we agreed the president would support and enshrining the daca protections into law.he
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and encouraged and the president would also encourage the house and senate to act. what remains to be negotiated are the details of border security with a mutual goal of finalizing the details as soonny as possible. p both sides agree the wall would not be part of this agreement, the president said he plans to pursue it at a later time and we make clear that we would continue to oppose it. the president, and if you listen to his comments this morning director mulvaney's comments, it is clear that what leader plus and i put out last night was accurate and confirmed this morning by the president statement before he got on the helicopter for florida and director mulvaney's comments. wr we have reached an understanding. we need to work out details.
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we can work together on a border security package with the white house and get daca on the floor quickly. the me talk about border security. we are for border security. we passed a robust security package as part of robust reforr in 2013 as you know better than anybody else. we are not for the wall. we will never be for the wall.iv it's expensive it's an effective, involves difficult eminent domain taking people'sfo property and apparently it's not being paid for by mexico. in fact, i listen to fox news this morning, starting to doah that she was going on and they keep saying the president promised them on the campaign. yes, he also promised that mexico would pay for. where's mexico? they said 12 times are not paying for it. that's not the policy may.
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and finally, it sends a terrible symbol to the world about the u.s. about who we are and what kind of country we are. for decades since the 1880sorld beautiful statue in the harbor, and the city in which i live has been the symbol of the world to america. that great torch symbolizes what a noble land we are., can you imagine if that symbol was replaced by a big wall? men that is not who america is was, hopefully will be. we are for sensible border security. a and more effective ways of securing the border than wall. a wall can be scaled over. i'm sure those who love the wall have heard of letters per allow wall can be tunneled under. sure those who support the wall
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have heard of shovels. it's a medieval solution to a modern problem. a game of thrones idea for worlds that is closer to star wars. the thing is we have new modern solutions using our best technology. we discussed them at the white house last night. drones. these drones can spot the difference from a deer or human being crossing the border. we have great sensory equipment. our military specialized inyr this. along mana lot of it is made in syrac, and new york. we can rebuild roads.l, talk to people on the border patrol and say places don't have roads. and of course there's a bipartisan bill in the house
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that has brought bipartisan support that set certain standards. everyone of the ideas we provide better, more effective border security than a medieval wall. there's much to be done, we have to put meat on the bones of the agreement. details will matter but it was a very, very positive step for the president to commit to daca protections without insisting on the inclusion of or debate about tran on the equifax data breach. what has transpired over the past several months is one of the most egregious examples since enron. equifax has exposed most sensitive personal information over half of the united states their names, addresses, social security numbers, driver's
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licenses, in some cases even their credit history. clearly there inadequate data security standards. it is doubly troubling and deeply troubling on a number of levels. when you are credit agencies you have two principal jobs, calculating and reporting accurate credit scores in protecting sensitive information of individuals funneled throughs that process. equifax stunningly and epically failed to perform one of its two essential duties as a company. to protect sensitive informatior of the people in his files. some except up. even following the failure this massive failure the company and leadership failed to communicate the breach to the public in the
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aftermath of the announcement failed to adjust public concern. the company knew about the breach and didn't notify consumers the information have been compromised. because they waited so long to report the breach consumers were thei put have a ball. the information was compromised without their knowledge. no ability to protect themselves. and while hackers can attempt to take out once in their names. use the information for identity thought fraud or perpetrate a number of fraudulent schemes. once the breach was announced consumers found themselves forced to provide sensitive information to equifax to verify if they had been impacted by the breach. to sign up for their credit monitoring services. customers were forced to agree to terms prohibiting their
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ability to bring a legal claim against equifax. is that disgusting? equifax creates the problem and then say customers if you want to sell but you have to give up your rights. outrageous. equifax was saying we screwed up and trust us we won't scrub again. but if we do you can't sue us. to make matters worse in the weeks leading up to thee announcement of their breach all customers were in the dark several executives sold off their stock in the company.attep they claim they had no knowledge of the breach. if they did it be one of thehe most brazen attempts of insider trading that i can recall. we need to get to the bottom of this. the murky bottom. the dirty bottom. the senate will hold hearings on the breach where executives are called into account, no questio.
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about that, but beyond that five things need to happen. first i'd like to see them in the next week. equifax must first commit proactively to reach out to all impacted individuals to know them that their personal information may have been compromised and informed them of what information has been released. second, provide creditax monitoring and id theft protection services to all impacted individuals for no less than ten years. if an individual chooses not to use the credit monitoring offered because they naturally don't trust them then equifax should reimburse that individual for the cost of an alternative service they sign up for. third, offer any impacted individual the ability to freeze
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their credit at any point for up to ten years. fourth, remove arbitration provisions for many agreement or terms of use for product services or disclosures offered by equifax. it means they were proactively come into compliance with the force arbitration role and there'll be no question than individual will not have all legal rights at their disposal. fifth, they must agree to testify before the senate, the fcc and cooperate with the investigation and comply with fines, penalties or standards recommended at the conclusion of these investigations. if equifax does not agree to these five things in one weeks time, the ceo of the company and the entire board should stepthey down. these five steps are common
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sense. the baseline of decency. if equifax cannot commit to them there leadership is not up to the job in the leadership must be replaced. t let me tell you, if joe public if the average citizen did anything close to what the corporate leaders of equifax did that led to the state breach of the awful response, that average citizen would be fired a immediately. to give equifax a week to implement these things is overly generous to people who didft horrible stuff and then after it happens did nothing virtually nothing that showed they hadht remorse. it is only right the ceo and the board step down if they cannot meet this decency by next week. finally, i have a lot to say this morning. a word on taxes last night at
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the white house president trump said he did not want his tax plan to benefit the very wealthy. that's a good thing. we democrats agree. forty-five of the 48 said that no tax breaks should go to the top 1%. they're doing great, god bless them, they don't need a tax break, middle-class people do. but when the president said that the devil is in the details. we haven't seen details. hea we haven't seen anything resembling a plan yet. we hear it is being written inig the back room by the so-called big six come all republicans. i haven't seen it, the ranking member hasn't seen it, no democrat in the senate has seen it. i can tell you one thing, of the president's tax plan repeals a rolls back the estate tax it will be clear that a lot of his plan benefits the very richllor contrary to his words.
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i remind everyone that only 5200 of the 2.7 million a stake in this country will pay any taxes this year. the estate tax only kicks in with couples with the states and $11 million transfer their wealth. go to north dakota, and i have nice family farm taught ask how many have an estate a worth $11 million. if they do i'm willing to exempt the family farm from the estate tax. but almost no one does. a study by the policy priority showed that the 5200 estates. 2.7 million estates only 5200
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qualify for the estate tax worth 11 million. of those, 50 are small farms or businesses. other let's exempt those 50. thus make these other guys pay.d we need the money, their bridge, god bless him now and president trump says the estate tax is a burden on the family farmer, i don't know what he's talking about. there may be a few they make a lot of noise. god bless them, that's their right as americans. there are very, very few. that is not what the facts say. initially the next of 2.7 million taxable estates, just 50 are farms and small businesses that would benefit from the repeal of the state
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tax. 2.7 million, 50. there's an amazing moment last might at the meeting we held at the white house when the estate tax came up. a few of the president's advisers say nobody pays the estate tax. has there's been news reports that gary cohen has told members of . congress that quote only morons pay the estate tax. what they mean is that rich people rich enough to beloved estate taxes can find ways round payment. first, they are wrong. repealing the estate tax would add $269 billion to the deficit over ten years. so there are a lot of people paying the estate tax, maybe there morons, maybe not there's lot of money that comes in from the very wealthy. say
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second, they bring up an important point, the right thing to do is not repeal the estate tax but close the loopholes. if you have an estate worth that much you should be paying the ws tax, not finding ways to avoid your tax obligation. you are rich, and the biggest day, god bless you. but pay your fair share. so mr. president, democrats want to participate in reforming our tax code. lots of good things we can agrer on, closing loopholes like this one cutting taxes for the middle class, helping small businesses bringing offshore differed and come back to the united states.h we laid out three principles, no reconciliation, that means do it together. not like you did healthcare which did not end up with a great result.
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second, no tax cuts for the top 1%, they're doing just fine. and fiscal responsibility. we should not increase the deficit as we cut taxes. now that we are going to spendho hundreds of billions of dollars to help the people of the state of texas and florida. i asked my republican colleagues, which do not agree e with? you think we should cut taxes on the top 1%? should we create deficits byd cutting taxes on the wealthy? i do think you should just go at this alone? if you grew though said but it sand, it seems to me that as these three principles which was
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the most successful tax reform we've had in decades, seems is not democrats who have moved the goalposts, but some republicans who no longer want to play by the same rules. i yield the floor to my dear friend. chairman of arm services. >> tonight, a hearing on the health insurance industry or capitol hill. rex tillerson will meet with his british counterpart in london. and heather outlines the latest sanctions against iran. the president of the european commission gives the annual state of the european union address. sunday book tv, live coverage of the brooklyn book festival starting at 10:00 a.m. eastern. and and i'm -- law professor
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cheryl author of loving, interracial intimacy in america and the threats white supremacy. author and new yorker staff writer talks about free speech. kathy o'neill will talk about her book, weapons of mass destruction. watch the live coverage of the brooklyn book festival on sunday starting at ten in stern on book tv. capitol hill, the senate house and pension committee held its fourth hearing on individual insurance markets. lawmakers heard from physicians and executives working in the industry about efforts to stabilize the market. this is about two and a half hours.


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